Ethereum's Price Rollercoaster: China-US Trade Tensions Threaten $2200-$2400 Retreat

Ethereum Price Predictions: Will China’s Trade War with the US Push ETH Back to $2200-$2400?

In a recent development, Andrew Kang, a partner at Mechanism Capital, has expressed concerns about potential economic tensions between China and the United States. Kang suggests that if an escalation in trade relations occurs, Ethereum's price could retract to the $2200-$2400 range. Kang's previous assessments indicated that during the recent market fluctuation, Ethereum appeared to be oversold, presenting a possible buying opportunity or a chance for recovery towards the $2700 mark.

In a significant move, the Chinese State Council Customs Tariff Commission announced that effective February 10, 2025, tariffs will be levied on select imported goods from the US. The proposed tariffs include a 15% rate on coal and liquefied natural gas, alongside a 10% tariff applied to crude oil, agricultural machinery, high-displacement vehicles, and trucks. This news has led to an immediate decline in market sentiment, reflecting the ongoing volatility and market uncertainty surrounding cryptocurrency investments.